Lexington · Richmond, KY

Financial advisors in Richmond

Served from our Lexington office, about 30 minutes away.

333 W Vine St, 12th Floor, Lexington, KY 40507 · (859) 967-0999

The MCF Advisors office in Lexington, KY — Lexington, KY

Richmond is built around Eastern Kentucky University, and the campus shapes the town's working life the way a large hospital shapes others. Madison County households often include a faculty member, a university administrator or a public employee, which means a retirement plan governed by system rules rather than by an employer's discretion, and a decision that hinges on getting those rules right.

Local retirement picture

What Richmond retires from

The employers and retirement plans we see most often from Richmond households. These are the details that decide when you can retire and what you keep.

Eastern Kentucky University

Faculty and staff typically participate in a university retirement arrangement, and those who came from public school teaching may have benefits in more than one system to reconcile.

Baptist Health Richmond

Clinical staff generally hold a 403(b), and coordinating it with any other retirement account changes the order income should be drawn in.

Madison County government and public safety

County careers run through Kentucky's public pension system, where the survivor benefit choice at retirement is close to permanent and should be modeled first.

Employer plans are described in general terms. Your own benefits, elections and deadlines govern, and we review them directly rather than assuming.

Planning services for Richmond

Questions

Questions from Richmond

I taught in public schools before joining EKU. Do those benefits combine?

Sometimes they interact and sometimes they stay entirely separate, and the answer depends on which systems you were in and for how long. This is exactly the situation where a general rule leads people wrong. We pull your actual benefit statements and build the projection from those.

When should I claim Social Security if I also have a public pension?

Later than most people assume, but the pension changes the math. A public benefit can affect what your Social Security looks like depending on your work record, and the pension may also let you delay claiming, which increases the benefit for life. The two decisions have to be made together.

Is the drive from Richmond to your office manageable?

About thirty minutes up I-75, and it is a straightforward trip outside of a home football weekend. Most Richmond clients meet in person a couple of times a year and use video for the reviews in between.

Service area